A firm that discriminates has ________ a nonprejudiced firm and ________
A) the same costs as; competes most often with imported goods and services
B) the same costs as; can successfully maximize profit in a competitive industry
C) lower costs than; drives other firms out of a competitive industry
D) higher costs than; cannot survive in a competitive industry
D
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Assume that seigniorage and the government's primary deficit are both zero. A change in the debt-to-GDP ratio depends on just
A) the rate of inflation and total factor productivity. B) the growth rate of real GDP and the real interest rate. C) the growth rate of the money supply and the nominal interest rate. D) the growth rate of nominal GDP and the rate of inflation.
The long-run aggregate supply curve is
A) horizontal at the full-employment level of real Gross Domestic Product (GDP). B) vertical at the full-employment level of real Gross Domestic Product (GDP). C) sloping upward due to the effects of price level changes on real Gross Domestic Product (GDP). D) the same as the short run aggregate supply (SRAS) curve.